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Deutsche Bank shows it learned nothing from the 2008 crisis

The Deutsche Bank logo sits on the bank's headquarters in Frankfurt, Germany.
The global bank’s overhaul plan will put taxpayers and the financial system at risk.

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USAA walks the diversity talk with latest tech hires

USAA diversity accomplishments
The San Antonio company named Judith Frey vice president of digital banking, Maria Alvarez Mann chief information officer for bank technology and Carri Arnold bank technology officer.

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Card issuers’ new focus on installment lending misses the point

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Issuers like Chase and Citi that added installment features to compete with digital lenders will need to think beyond traditional card options.

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New villain in battle over CFPB mortgage rule: Appendix Q

CFPB headquarters
Signage is displayed outside the Consumer Financial Protection Bureau (CFPB) headquarters in Washington, D.C., U.S., on Tuesday, March 5, 2019. House Financial Services Committee Chair Maxine Waters will hold a hearing this week on the semi-annual review of the CFPB. Photographer: Andrew Harrer/Bloomberg
Andrew Harrer/Bloomberg
With the agency mulling changes to the “Qualified Mortgage” regulation, mortgage lenders say little-known standards for how they document a borrower’s income would be a good place to start.

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United Financial could've sold for a lot more money, filing shows

Value of offers from People's United and another suitor for United Financial
People’s United offered 30% more in the summer of 2018 for United Financial than it agreed to pay in a deal announced last month. What followed the initial talks is a textbook lesson in the impact of indecision and the unexpected in bank M&A.

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Challenger banks rake in venture capital bucks

Number of users at four U.S. challenger banks
Changing consumer attitudes about these companies and the emergence of open banking have made them appealing to venture investors, whose commitments rose 15% in the first half of the year.

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Bankruptcy relief for farmers would compound banks' credit risk

Number of farm bankruptcy filings, quarterly
President Trump is expected to sign legislation soon that would expand the number of farmers who could file under the more lenient Chapter 12. Ag lenders are worried because farm bankruptcies recently rose and the trade war with China could worsen.

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HSBC USA launches digital lending platform, admits to playing catch-up

Percentage of U.S. consumers with outstanding personal loans
The LendingClubs and SoFis of the world have a big head start, but HSBC's U.S. unit says its partnership with the fintech Avant will help it close the gap in online personal loans.

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CIT to buy Mutual of Omaha Bank for $1 billion

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CIT Group will gain nearly $7 billion in low-cost deposits, mostly tied to homeowners associations, as part of the acquisition.

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Regulators may end CRA credit for loans to wealthy: OCC’s Otting

Comptroller of the Currency Joseph Otting
Joseph Otting, comptroller of the U.S. currency, listens during a swear-in ceremony at the U.S. Treasury in Washington, D.C., U.S., on Monday, Nov. 27, 2017. Otting, a former OneWest Bank Group chief executive officer, won Senate approval this month to lead a key U.S. bank regulator, further clearing the way for the Trump administration to roll back Wall Street regulations. Photographer: Andrew Harrer/Bloomberg
Andrew Harrer/Bloomberg
Banks currently can help their CRA performance with mortgages to anyone in a distressed neighborhood, but Joseph Otting said officials crafting a reform plan are considering limiting that to lower-income borrowers.

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